India was reacting to the United States granting the country a temporary exemption from sanctions for buying oil from Russia. India has said it will continue to buy oil from wherever it is available and is not dependent on any country’s permission.
“India will buy oil from wherever it is available. Our oil purchases will not be guided by any empty slogans. India has never depended on any country’s permission to buy Russian oil,” a senior government official told PTI.
According to the official, power purchase decisions in India are guided by one principle – national interest.
The US has granted India a 30-day exemption from sanctions
On Thursday, the US temporarily eased economic sanctions against Russia to allow the sale of Russian oil stranded at sea to India.
US Treasury Secretary Scott Bessent announced the 30-day waiver on Friday, calling India a critical partner.
The exemption removes friction that was never in anyone’s interest to maintain and recognizes the stabilizing role that India’s refining and purchasing capacity has played in global energy markets.
The US decision came in the wake of the ongoing conflict in the Middle East, which has sent world oil prices soaring.
Oil surged 8.5 percent on Friday, up nearly 30 percent for the week, after President Donald Trump said only the “unconditional surrender” of Iran would end the war in the Middle East.
Purchase of Russian oil in India
After the Russian invasion of Ukraine in 2022 and subsequent sanctions, India became the largest buyer of oil from Moscow, peaking at nearly 40% of the country’s total oil needs.
India-US trade agreement
In February, Trump claimed India had pledged to stop buying Russian oil as part of a trade deal and lifted a 25 percent tariff on the country’s exports.
However, India says its energy acquisition is driven by “national interest” and “energy security”.
India is looking for alternative sources of energy
In view of the ongoing situation in the Middle East, India is exploring alternative sources to further strengthen its energy security, PTI reported.
Several countries, including Australia and Canada, have reportedly offered additional gas supplies, and India continues to explore alternative sources to further boost energy security.
